Political finance – anti-corruption solutions

This article, by Follow the Money (FTM), that political finance corruption is still very much and important issue yet there are more solutions now than there were before, as AI and other digital solutions can provide support to governmental authorities which may not have enough resources.  A recent report  by International IDEA, points out that AI can help with controlling and monitoring political finances.  FTM also noted that other issues, such as third-party financing should be highlighted, and digital tools can also be of help in reviewing such monies and to transparently show the money trail.

As Follow the Money notes, “Meanwhile, the financial reporting of political parties remains stuck in the twentieth century. While electoral campaigns are increasingly fought online, political parties in many countries still submit financial reports on paper, and sometimes they do not even publish them online..”

Unfortunately, all of these issues are tied to political will and in many cases, Romania being a recent example, the governmental authorities were not interested in the impact of third-party funding, and they still are uninterested in making changes. This is of even greater importance when looking at AI and digital solutions as these changes usually require additional regulatory amendments.

What is to be done?  What is essential is to keep pressure on governments, as well as continuing to highlight how effective AI and digital tools are when addressing political finance monitoring. Education regarding the cost-effectiveness of such procedures is also key and would provide information and support to the forward looking officials in government.

Link:

https://www.ftm.eu/newsletters/europe-dirty-collars-3

https://www.idea.int/publications/catalogue/combatting-corruption-political-finance-global-trends